Mercia Asset Management (MERC): Direct investment realisations

This situation live

£128m · 30.5p · +3% since the first step

Disposal of a part (break-up)

Direct investment realisations

Exit timetable pushed out

Next: Realisations expected FY28-FY29; alternative divestment options considered

Every step · 2

2 Dec 2025 Advisers appointed at several companies – Our direct investment portfolio continues to mature, with several companies having appointed advisers as we, and they, look to consider opportunities for... ↗
30 Jun 2026 Exit timetable pushed out – The Board is however also considering other alternative options for the divestiture of the direct investment portfolio. ↗

What is happening

Mercia Asset Management: Direct investment realisations – Exit timetable pushed out. ['Exit timetable pushed out']

In short: Advisers were appointed at several portfolio companies in December 2025 to prepare exits. Valuation comparables and acquirer behaviour have lengthened timelines, so most realisations are now expected in FY28-FY29. The Board is also considering alternative options for divesting the portfolio. Fortis Frontier was sold for £0.6m, and the portfolio is valued at £124.8m after a £12.8m fair value fall.
Announced: 2 Dec 2025 · Advisers appointed at several companies
Latest: 30 Jun 2026 · Exit timetable pushed out
Portfolio value: £124.8m (2025: £126.0m)
Fair value move: £12.8m net decrease in FY26
Timetable: Majority of realisations FY28 to FY29
Realisations: Fortis Frontier £0.6m; other £0.2m since year end

Realisations expected FY28-FY29; alternative divestment options considered.

From the company's own announcements. Not investment advice.

Briefing Pro

What it does, how it got here, what management promised and delivered – written from its own announcements.

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